The latest analysis and commentary by stock market guru Chandan Taparia of Motilal Oswal Securities on what is moving the markets today.
He also spoke at length on PVR, Jubilant FoodWorks, Bajaj Finance and Axis Bank.
“First trade is buy on PVR. The stock has seen the open interest addition of around 10-11 percent, it is forming the higher-highs, higher-lows from last 4-5 trading sessions. Just 3 days back it was consolidating but supports were even inching higher we have seen jump in the trading volume so entire data setup indicates that the stock is all set to head towards the new high territory. One can buy PVR with a stop loss of Rs 1,670 and the stock has potential to move towards Rs 1,760 kind of level on the upper side. Second trade we have selected to go long on Jubilant FoodWorks. We are expecting the positive momentum so one can buy with a stop loss of Rs 1,370 and it has potential to head towards the new high territory towards Rs 1,444 kind of level.”Disclaimer
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